Government Agencies Strengthening Stakes in Targeting Pods Market to Modernize Precision-Guided Munitions, Market to Garner CAGR of ~5% from 2019 to 2027 - TMR

Targeting pods are increasingly being integrated with combat aircrafts by militaries around the world. Advances in optical targeting pods (OTPs) have paved way to the deployment of precision targeting system. Particularly, the demand for laser-guided weapons is expected to rise. Manufacturers of defense aircrafts and aerospace companies are collaborating on electro-optical sighting for targeting daytime and infrared-sighting during night time. OTPs equipped with features notably laser designators, electro-optics, and infrared radars. Apart from being deployed in aircrafts, targeting pods are also deployed in unmanned aerial vehicles.

Rise in aerospace and defense budgets has moved the cursor to advancing guided munitions, expanding the horizon in the targeting pods market, opine analysts at TMR.

By 2027-end, the market is expected to spawn revenue of ~US$ 4 Bn. Optical electro-targeting systems have come a long way and will continue to gain attention by defense contractors and aerospace companies in numerous developing and developed nations.

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Key Findings of Targeting Pods Market

North America expected to hold substantial revenue share in global targeting pods market
Presence of numerous well-entrenched players in the U.S. makes North America increasing attractive
The buyers' bargaining power is moderate
Optical electro-targeting systems have witnessed rapid advances
Market to projected to clock CAGR of ~5% during 2019-2027 globally
Analyze global targeting pods market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study

Targeting Pods Market: Key Driving Factors and Promising Avenues

The deployment of optical targeting pods (OTPs) in combat aircrafts has opened a new avenue in the targeting pods market. Aerospace companies and defense contractors have been harnessing the technological potential of optical electro-targeting systems in supporting the governments' initiative in modernizing weaponry.
The defense budgets in numerous countries have risen on the back of efforts to meet the requirements of modern combat and warfare in the wake of rising geopolitical tensions between countries.
In recent years, precision in targeting munitions has become a high sought-after functionality. This is also a key driver for technological advancements in the targeting pods market.
Growing number of trial runs of new targeting pods technology has spurred the revenue potential in the targeting pods market.
In the wake of Covid-19, the manufacturing sector has been severely impacted around the world, including the manufacturing of defense aircrafts. However, companies where a large part of the manufacturing is automated are able to overcome the constraints of supply side faster than their counterparts are. This is a promising trend.
Expansion of product range by globally well-established companies has spurred the growth potential of the market.
In recent years, defense contractors in key countries have been able to bag some lucrative contract of government of other countries. This will undoubtedly expand the opportunity in the targeting pods market.
Explore 234 pages of top-notch research, incisive insights, and detailed country-level projections on Targeting Pods Market (Type: FLIR & Laser Designator Pods and Laser Spot Trackers; Component: CCD Camera, Thin-film Preparation, MMS, ECU, HD TV, and Video Link; Platform: Combat Aircraft, Helicopter, UAV, and Others; and Installation: OEM and Aftermarket) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027 at https://www.transparencymarketresearch.com/targeting-pods-market.html

Targeting Pods Market: Regional Growth Dynamics

North America has proved to a highly lucrative regional market. The presence of companies who develop components for advanced precision-guided munition is a key factor. Another trend fueling the growth of the regional market is the rapid uptake of advanced electro-optical targeting capability, especially by the U.S. military. Some of the market participants in the region are Lockheed Martin, L-3 Communications, and Flir Systems.

Targeting Pods Market: Competitive Dynamics

Degree of competition is moderate. Also, the bargaining power of buyers is moderate. Top players are leaning on expanding their portfolio to consolidate their shares in the targeting pods market. Some of the top players in the market are Thales Group, Raytheon Company, Rafael Advanced Defense Systems Ltd., Northrop Grumman, and Lockheed Martin.

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Global Targeting Pods Market: Segmentation

Targeting Pods Market, by Type

FLIR & Laser Designator Pods
Laser Spot Trackers
S-type
Pancake
Miniature
Beam/Bending
Targeting Pods Market, by Component

CCD Camera
Thin-film Preparation
MMS
ECU
HD TV
Video Link
Targeting Pods Market, by Platform

Combat Aircraft
Helicopter
UAV
Others
Targeting Pods Market, by Installation

OEM
Aftermarket
Targeting Pods Market, by Region

North America
U.S.
Canada
Mexico
Europe
EU5
BENELUX
Nordic
Russia
Poland
Rest of Europe
Asia Pacific (APAC)
China
India
Japan
South Korea
ASEAN
Australia & New Zealand
Rest of Asia Pacific
Middle East & Africa (MEA)
GCC
South Africa
North Africa
Israel
Rest of Middle East & Africa
South America
Brazil
Argentina
Rest of South America
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